| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Bharat Hotels Limited |
|
Particulars |
As at 31 March 2023 |
As at 31 March 2022 |
|
ASSETS |
|
|
|
Non-current assets |
|
|
|
Property, plant and equipment |
1,623.77 |
1,277.01 |
|
Right-of-use assets |
152.00 |
154.16 |
|
Capital work-in-progress |
285.80 |
302.21 |
|
Goodwill |
84.25 |
84.25 |
|
Intangible assets |
0.46 |
0.38 |
|
Financial assets |
|
|
|
a) Investments |
0.03 |
0.03 |
|
b) Other financial assets |
29.44 |
28.03 |
|
Deferred tax assets (net) |
44.94 |
97.33 |
|
Income tax assets (net) |
13.48 |
23.14 |
|
Other non-current assets |
15.37 |
9.91 |
|
Total non-current assets |
2,249.54 |
1,976.44 |
|
Current assets |
|
|
|
Inventories |
18.25 |
16.88 |
|
Financial assets |
|
|
|
a) Trade receivables |
37.50 |
20.83 |
|
b) Cash and cash equivalents |
50.03 |
68.95 |
|
c) Other bank balances |
52.40 |
42.47 |
|
d) Other financial assets |
4.71 |
9.14 |
|
Other current assets |
21.12 |
19.90 |
|
Total current assets |
184.00 |
178.18 |
|
Assets classified as held for sale |
40.29 |
410.41 |
|
TOTAL ASSETS |
2,473.83 |
2,565.03 |
|
EQUITY AND LIABILITIES |
|
|
|
EQUITY |
|
|
|
Equity share capital |
75.99 |
75.99 |
|
Other equity |
784.32 |
725.77 |
|
Equity attributable to owners of Group |
860.31 |
801.76 |
|
Non-controlling interest |
-85.30 |
-75.63 |
|
Total equity |
775.01 |
726.13 |
|
LIABILITIES |
|
|
|
Non-current liabilities |
|
|
|
Financial Liabilities |
|
|
|
a) Borrowings |
1,318.49 |
1,499.57 |
|
b) Lease liabilities |
89.21 |
88.36 |
|
c) Other financial liabilities |
50.42 |
17.67 |
|
Provisions |
8.45 |
8.44 |
|
Other non-current liabilities |
28.72 |
30.14 |
|
Total non-current liabilities |
1,495.28 |
1,644.18 |
|
Current liabilities |
|
|
|
Financial liabilities |
|
|
|
a) Borrowings |
28.57 |
38.73 |
|
b) Lease liabilities |
2.28 |
4.80 |
|
c) Trade payables |
|
|
|
(i) Total outstanding dues of micro and small enterprises |
5.92 |
7.54 |
|
(ii) Total outstanding dues of creditors other than micro and small enterprises |
75.80 |
69.91 |
|
d) Other financial liabilities |
20.96 |
34.58 |
|
Other current liabilities |
48.56 |
31.51 |
|
Provisions |
8.16 |
7.66 |
|
Current tax liabilities (net) |
0.80 |
- |
|
Total current liabilities |
191.04 |
194.72 |
|
Liabilities classified as held for sale |
12.50 |
- |
|
TOTAL EQUITY AND LIABILITIES |
2,473.83 |
2,565.03 |
| PARTICULARS | 2023 | 2022 |
| Income from Continuing Operations | ||
| Revenue from Operations | 800.0506 | 368.5623 |
| Other Income | 8.2466 | 7.2039 |
| Total Income | 808.2972 | 375.7662 |
| Expenses from Continuing Operations | ||
| Cost of Food and Beverages Consumed | 76.8921 | 35.1532 |
| Purchases of Traded Goods | 0.0675 | 0.0085 |
| Changes in Inventories of Traded Goods | 0.2126 | 0.1196 |
| Employee Benefits Expense | 91.7385 | 58.0515 |
| Other Expenses | 275.0365 | 143.2996 |
| Total Expenses | 443.9472 | 236.6324 |
| EBITDA | 364.35 | 139.1338 |
| Finance Income | 9.0651 | 7.179 |
| Finance Costs | 184.5966 | 184.1427 |
| Depreciation and Amortization Expense | 67.8242 | 64.9402 |
| Profit/(Loss) Before Exceptional Items and Tax from Continuing Operations | 120.9943 | -102.7701 |
| Exceptional Items | 13.1804 | 0 |
| Profit/(Loss) Before Tax from Continuing Operations | 134.1747 | -102.7701 |
| Tax Expense | ||
| Current Tax | 31.8414 | 0.1213 |
| Deferred Tax Credit | 52.7644 | -44.2189 |
| Total Tax Expense | 84.6058 | -44.0976 |
| Profit/(Loss) for the Year from Continuing Operations | 49.5689 | -58.6725 |
| Loss Before Tax for the Year from Discontinued Operations | 0 | -0.4698 |
| Tax Expense of Discontinued Operations | 0 | 0.1641 |
| Loss for the Year from Discontinued Operations | 0 | -0.3057 |
| Profit/(Loss) for the Year | 49.5689 | -58.9782 |
| Other Comprehensive Income for the Year | ||
| Re-measurement (Loss)/Gain on Defined Benefit Obligations | -0.8051 | 1.4623 |
| Income Tax Effect on Above | 0.2833 | -0.5011 |
| Other Comprehensive Income for the Year (Net of Tax) | -0.5218 | 0.9612 |
| Total Comprehensive Income for the Year | 49.0471 | -58.017 |
| Earnings per Share (Face Value of INR 10/- Each) | ||
| (a) Basic | 6.52 | -7.76 |
| (b) Diluted | 6.52 | -7.76 |
| Particulars | 31st March 2023 | 31 March 2022 |
| A. Cash Flow from Operating Activities | ||
| Profit/(Loss) Before Tax from Continuing Operations | 134.17 | -102.77 |
| Loss before tax from discontinuing operations | -0.47 | |
| Profit/(loss) before tax | 134.17 | -103.24 |
| Adjustments for: | ||
| Depreciation and Amortization Expense | 67.82 | 64.94 |
| Reversal of expense of employee stock option scheme | -0.17 | -0.18 |
| Unrealised foreign exchange loss | 0.02 | 0.00 |
| Net loss on disposal of property, plant and equipment | 0.34 | 1.78 |
| Rent concession | 0.00 | -0.60 |
| Finance costs | 178.78 | 180.68 |
| Interest income on bank deposits and others | -8.31 | -5.95 |
| Unwinding of interest on security deposits | -0.76 | -0.54 |
| Bad debts / advances written off | 0.41 | 0.42 |
| Amortisation of deferred lease rentals | -0.37 | -0.13 |
| Amortisation of deferred government grant | 0.00 | -0.65 |
| Gain on fair valuation of financial liability | -18.51 | 0.00 |
| Gain on sale of land classified as held for sale | -20.80 | 0.00 |
| Provision for impairment loss on land | 20.71 | 0.00 |
| Provision for export obligations and other assets | 5.42 | 0.00 |
| Excess provision/ credit balances written back | -5.37 | -2.73 |
| Operating Profit Before Working Capital Changes | 353.39 | 133.80 |
| Changes in Working Capital: | ||
| (Increase)/Decrease in Inventories | -1.37 | 0.93 |
| Loans and Other Assets | -6.27 | -4.28 |
| (Increase)/Decrease in Trade Receivables | -18.07 | 3.21 |
| Increase/(Decrease) in Trade Payables | 1.12 | -7.58 |
| Provisions and Other Liabilities | 9.27 | 8.49 |
| Cash Generated from Operations | 338.07 | 134.57 |
| Income taxes (paid)/refund (net) | -20.97 | 1.14 |
| Net Cash from Operating Activities | 317.10 | 135.71 |
| B. Cash Flow from Investing Activities | ||
| Payments for purchase of property, plant and equipment and Intangibles | -18.46 | -9.00 |
| Proceeds from sale of property, plant and equipment | 49.59 | 0.42 |
| Investment in bank deposits (net) | -5.84 | -24.38 |
| Interest received | 7.61 | 5.20 |
| Net Cash Used in Investing Activities | 32.90 | -27.76 |
| C. Cash Flow from Financing Activities | ||
| Proceeds from long term borrowings | 1102.60 | 147.16 |
| Repayment of long term borrowings | -1281.45 | -64.09 |
| Repayment of short term borrowings (net) | -3.04 | -7.20 |
| Payment of lease liabilities | -1.67 | -11.73 |
| Dividend paid | -0.02 | -0.09 |
| Finance cost paid | -185.32 | -140.44 |
| Net Cash Used in Financing Activities | -368.90 | -76.39 |
| D. Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C) | -18.90 | 31.56 |
| E. Cash and Cash Equivalents at the Beginning of the Year | 68.94 | 20.25 |
| G. Cash flows from discontinued operation | 0.00 | 17.13 |
| Cash and Cash Equivalents at the End of the Year (D+E) | 50.04 | 68.94 |
| Cash and cash equivalents | ||
| Balances with banks | ||
| Current accounts | 43.83 | 40.87 |
| Exchange earners foreign currency account | 0.00 | 0.03 |
| Deposits with original maturity of less than three months | 5.66 | 27.46 |
| Cash on hand | 0.52 | 0.56 |
| Cheques/drafts on hand | 0.03 | 0.02 |
| Total | 50.04 | 68.94 |
Operating Activities:
Net cash from operating activities increased significantly from ₹135.71 crores in 2022 to ₹317.10 crores in 2023, primarily due to improved operating profit and working capital adjustments.
Investing Activities:
Net cash used in investing activities changed from -₹27.76 crores in 2022 to ₹32.90 crores in 2023, indicating increased investment in property and equipment and a higher level of proceeds from asset sales.
Financing Activities:
Net cash used in financing activities saw a notable increase from -₹76.39 crores in 2022 to -₹368.90 crores in 2023, mainly driven by higher long-term borrowing and repayments.
Cash and Cash Equivalents:
Cash and cash equivalents at the end of 2023 stood at ₹50.04 crores, down from ₹68.94 crores in 2022.
The net decrease in cash and cash equivalents was ₹18.90 crores in 2023 compared to an increase of ₹31.56 crores in 2022, indicating a change in the company 's cash position.
| Particulars | 31-Mar-23 | 31-Mar-22 |
| Current Ratio (in times) | 1.24 | 1.1 |
| Debt-Equity Ratio (in times) | 1.46 | 1.76 |
| Debt Service Coverage Ratio (in times) | 2.43 | 1.26 |
| Return on Equity Ratio (in %) | 4.91 | -16.21 |
| Inventory Turnover Ratio (in times) | 46.76 | 21.59 |
| Trade Receivables Turnover Ratio (in times) | 27.78 | 15.24 |
| Trade Payable Turnover Ratio (in times) | 0.92 | 0.39 |
| Net Capital Turnover Ratio (in times) | 31.53 | -26.87 |
| Net Profit Ratio (in %) | 5.51 | -42.64 |
| Return on Capital Employed Ratio (in %) | 10.84 | -2.25 |
| Particulars | 2023 | 2022 |
| Dividend per Share | 0 | 0 |
| Retained Earnings (In Rs. Crores) | 131.86 | 202.96 |
Overall, Bharat Hotels Limited showed significant improvement in its financial performance, with a turnaround from a loss to a profit, driven by increased revenue, controlled expenses, and improved EBITDA.
